Harrow agreed to acquire global rights to TYRVAYA (varenicline solution) nasal spray 0.03 mg from Viatris.
Deal terms include $30 million cash at closing, plus up to $70 million in net-sales milestones; total consideration is up to $100 million.
Closing is expected in the second half of 2026, subject to customary conditions, and the upfront payment is expected to be funded with cash on hand.
TYRVAYA is indicated for dry eye disease, complementing Harrow’s VEVYE franchise with a nasal-spray option that avoids eye-drop instillation reactions.
TYRVAYA is approved in the U.S., China, and Taiwan, with additional marketing applications pending in other countries.
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